Jump ahead:

• Black small businesses are leading in early tech adoption
• Future-focused and tech-forward
• Tech as a driver of economic empowerment
• Funding challenges and financial barriers
• The hindrance of racial bias
• Bridging the gap- tech needs and community ties
• Sampling and methodology

Black small businesses are leading in early tech adoption

Black-owned small businesses are at the forefront of digital adoption. They're embracing digital tools early, confident in their tech stacks and ability to compete, and resourceful — a winning combination. Despite their leadership in tech, data also points to opportunities to empower more of these entrepreneurs with the resources they need to succeed.

Investing Big in Tech

Over the past year, Black respondents have put their money where their mouth is, investing an average $18.3K in new tech—outspending their non-Black counterparts ($13.6K). They're serious about digital transformation.

Future Tech Plans

And they're not stopping there. Looking ahead, Black small businesses plan to double down, aiming to invest $18.5K on average in tech upgrades in the next 12 months, again exceeding the planned $14.1K investment of their non-Black peers.

Early Adopters

Black small businesses aren't just keeping up; they're leading the charge. They are 1.3x more likely to identify as early adopters of new digital tools (26%) compared to their non-Black counterparts (19%).

Tech confidence (with a caveat)

7 in 10 (73%) Black small businesses agree that their business is currently using the right technology to keep pace with other small businesses and larger competitors. However, this still leaves over a quarter (27%) who aren’t sure or confident—revealing a clear opportunity to provide additional support and resourcing. 

Future-focused and tech-forward

Black small business owners are making bold strides, aiming for growth and leaning to tech to give them the edge they need to propel their success. 

Growth is the goal

Black small businesses have their eyes on the prize. 46% are prioritizing growth—rapid or steady—for the next 12 months. Most are prioritizing growth ahead of maintaining the status quo (21%) and just surviving (21%).

Tech is the secret to success

7 in 10 (76%) Black small businesses agree that technology is a major contributor to their success.

The Innovation Imperative

8 in 10 (82%) Black small businesses agree that adopting new technologies is critical for their future growth—even more so than their non-Black counterparts (78%).

Social media savvy

Black small businesses are social media superstars. 9 in 10 (94%) say they’ve leveraged social media to fuel business over the last 12 months, far ahead of their non-Black peers (86%). They’re using social media to promote products or services (58%), build brand awareness (51%), and engage with customers (46%). 

Tech as a driver of economic empowerment

Technology is redefining avenues of opportunity and growth for Black small businesses—and by extension, the Black community at large.

Tech opens doors

73% of Black small businesses agree: advancements in technology have made it easier than ever for Black entrepreneurs to get their start. 

Leveling the playing field

74% of Black small businesses agree that technology is creating a more level playing field for Black entrepreneurs to start a new business. Tech is empowering a new wave of founders.

Closing the Wealth Gap

9 in 10 (95%) Black small businesses feel technology is helping to close the wealth gap of the Black community, making it easier to both start and scale their businesses.

Funding challenges and financial barriers

Black small businesses are tech-savvy and forward-thinking, increasingly embracing technology as a tool to drive success. However, the playing field isn't completely level: they still face significant financial hurdles.

Emergency funds on credit

Black respondents were 1.4x more likely to report relying on credit cards for emergency expenses (67% vs. 47% of non-Black peers).  They report using credit for emergencies an average of 5 times over the last year, compared to 4 for non-Black peers.

Tech as a shield

Black small businesses see tech as a protective measure in uncertain times. 73% agree that small businesses that embrace digital technology are better prepared for future financial challenges. 

The hindrance of racial bias

Many Black small businesses continue to battle racism, creating additional barriers to growth and prosperity.

Racism in business interactions

6 in 10 (62%) Black small businesses report still facing racism from customers. While down from last year's 69%, this shows reports of racism are still pervasive and the issue remains persistent.

The Business Impact

Nearly half (49%) of Black small businesses have had to turn away a customer due to racially charged statements. While a decrease from 85% in 2024, racial bias in their interactions is still a detractor for Black small businesses. 

Bridging the gap: tech needs and community ties

When it comes to tech adoption, Black small businesses have a clear vision for government support and AI integration. And while they wait for that, they're already taking action, strengthening their community from within.

Training Trumps All

When it comes to government support to advance tech adoption, Black small businesses are prioritizing training and education (60%)—even more than grants (57%) or tax breaks (51%). They’re seeking skills and prioritizing sustainable empowerment through knowledge. 

AI Education, On Their Terms

For learning how to better understand and implement AI, Black small businesses want accessible, self-paced learning. They prefer online courses and tutorials (60%) to workshops (44%), expert consultations (39%), or webinars (35%).

Community- Driven Support

Black small businesses are building each other up. Black respondents were 1.4x more likely (76% vs. 54% of non-Black peers) to have helped other small businesses through volunteering, donations, or referrals in the last year. 

Buying black, Amplified

Black small businesses are more than 2x more likely to have purchased from other Black-owned businesses (83% vs. 40% of non-Black peers). They're putting their money where their values are and supporting economic growth within their communities. 

Sample and methodology 

In December 2024, Intuit QuickBooks commissioned an online survey completed in February 2025. The survey gathered insights from 309 Black and 1,000 non-Black small business owners and decision-makers aged 18 and over throughout Canada. It focused on businesses with 0-100 employees. Among Black respondents, 28% owned businesses with 10-100 employees, 25% owned businesses with 1-9 employees, and 22% owned non-employer businesses. One in four respondents were Black small business decision-makers (26%). In the non-Black sample, 16% owned businesses with 10-100 employees, 27% owned businesses with 1-9 employees, and 24% owned non-employer businesses. One in 3 non-Black respondents were decision-makers for small businesses (34%). Half of Black respondents identified as male (55%) and 45% identified as female. Percentages have been rounded to the nearest decimal place, so values shown in data report charts and graphics may not add up to 100%. Responses were collected using Pollfish audience pools and partner networks with double opt-ins and random device engagement sampling to ensure accurate targeting and results. Respondents received remuneration.

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